If two parties agree upon the mortgage or pledge of real or personal property, but the instrument states that the property is sold absolutely or with a right of repurchase, reformation of the instrument is proper.
Civil Code · Book IV: Obligations and Contracts · Title II: Contracts
Chapter 4: Reformation of Instruments
Current text, as of October 24, 2026
If two parties agree upon the mortgage or pledge of real or personal property, but the instrument states that the property is sold absolutely or with a right of repurchase, reformation of the instrument is proper.
Consolidated by Alleba from the text of Republic Act No. 386 (Lawphil and the Supreme Court E-Library). Book I provisions on marriage, family relations and parental authority were repealed by the Family Code (Executive Order No. 209, 1987) and are shown for reference only. For information and research only, and not legal advice. For certified copies, refer to the Official Gazette or the issuing agency.